Golden State Wealth Management LLC Acquires Shares of 675 Phillips 66 (NYSE:PSX)

Golden State Wealth Management LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 675 shares of the oil and gas company’s stock, valued at approximately $77,000.

Several other hedge funds have also modified their holdings of the stock. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter valued at $26,000. Stephens Consulting LLC lifted its stake in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the period. Values First Advisors Inc. bought a new position in Phillips 66 in the third quarter valued at about $30,000. Webster Bank N. A. grew its position in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the period. Finally, YANKCOM Partnership bought a new stake in shares of Phillips 66 during the 4th quarter valued at $31,000. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSX. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Up 2.9 %

Shares of PSX opened at $123.74 on Tuesday. The firm has a 50 day simple moving average of $119.29 and a two-hundred day simple moving average of $127.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a market cap of $51.10 billion, a P/E ratio of 25.05, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company earned $3.09 EPS. Research analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.